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Healthcare Glossary

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Market penetration

Increasing a company's market share in a new or existing market using such tactics as heavy promotion and pricing strategies. These strategies may include comprehensive advertising, decreased prices, or mass discounts.

Market penetration also refers to the measure of a product's sales figure comparable to the total sales figure of all rival products, denoted as a percentage.

An equation ruling to the above is: Sales volume of 1 unit x 100 ÷ Total sales volume of all rival products.

See also:
Marketing strategy
Market penetration strategy
Market penetration pricing

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